$UNFI is in a major strong support at 50-day MA
Updated
UNFI current price as of this writing closed at 15.44Technically,
UNFI bounced on a 50-day moving average at 14.68 and another support at 15.15. If it breaks down from its 50-day MA, another strong support at 13.62. A good entry is somewhere near the support at 13.62, 14.68 and 15.15 in case of a strong selling pressure.
With its good fundamentals - value, growth and momentum, its price movement may move sideways or bounce to its 14 to 17 price range while waiting for its catalyst.
Note: This is not a financial advice. The author is long on UNFI.
Trade active
As of June 16, I am correct in my analysis, UNFI is now at $16.90. My forecast is a range between 14 to 17 while waiting for catalyst to break at 17.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.